Vera Therapeutics (NASDAQ:VERA) Shares Gap Down - Should You Sell?

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $26.63, but opened at $25.00. Vera Therapeutics shares last traded at $24.01, with a volume of 196,158 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Vera Therapeutics in a report on Tuesday, January 28th. They set a "buy" rating and a $58.00 target price on the stock. Guggenheim increased their price objective on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. JPMorgan Chase & Co. dropped their target price on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. Finally, Wolfe Research assumed coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They set an "outperform" rating and a $49.00 target price on the stock. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $64.67.

Vera Therapeutics Stock Down 6.3 %

The business's 50-day moving average is $30.08 and its two-hundred day moving average is $38.48. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -8.16 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76.

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Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.11. On average, equities analysts anticipate that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Insider Buying and Selling at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total value of $730,450.00. Following the completion of the sale, the chief executive officer now owns 143,603 shares of the company's stock, valued at approximately $5,993,989.22. This represents a 10.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 21.70% of the company's stock.

Institutional Investors Weigh In On Vera Therapeutics

A number of large investors have recently added to or reduced their stakes in VERA. Avoro Capital Advisors LLC increased its holdings in shares of Vera Therapeutics by 30.2% in the fourth quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company's stock valued at $237,247,000 after purchasing an additional 1,300,410 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Vera Therapeutics by 11.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,377,049 shares of the company's stock valued at $185,107,000 after acquiring an additional 437,940 shares during the period. FMR LLC raised its holdings in Vera Therapeutics by 9.6% in the 4th quarter. FMR LLC now owns 3,053,126 shares of the company's stock valued at $129,117,000 after acquiring an additional 267,842 shares during the period. Vanguard Group Inc. lifted its position in Vera Therapeutics by 14.3% during the fourth quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company's stock worth $124,737,000 after acquiring an additional 369,387 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP boosted its holdings in shares of Vera Therapeutics by 31.0% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,437,339 shares of the company's stock worth $60,785,000 after acquiring an additional 340,488 shares during the period. Institutional investors own 99.21% of the company's stock.

Vera Therapeutics Company Profile

Vera Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing treatments for patients with serious immunological diseases. Its lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection that is in Phase III clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis that is in Phase II clinical trial.